This study aims to show the extraordinary complexity of an exit from the euro by Italy through a comparison with Argentina in the nineties when they adopted a currency convertibility with the dollar. After abandoning that regime in 2002 and having defaulted on their debt, Argentina began to grow at high rates within a few years. According to some, this Argentine experience shows that leaving the euro and restructuring the debt could "revive" Italy. However, Professor Passacantando argues this conclusion is profoundly wrong.

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